Imperial Valley News Center

Americans Credit President Donald J. Trump as the Economy Continues to Soar

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Written by IVN

Washington, DC - Public approval of President Trump’s handling of the economy has hit a new high as the soaring economy continues to lift up American workers.

THE HILL: Trump’s Approval Rating on Economy Hits New High: Gallup

“President Trump’s approval rating on the economy has reached a new high, according to a Gallup poll published Tuesday. The poll showed that 56 percent of adults in the U.S. approve of Trump’s handling of the economy, the best mark of Trump’s presidency and the highest approval rating for Trump on any of the 14 issues in the poll.”

“Public optimism in their personal economy has hit a 16-year high under President Trump, according to a new survey. Some 69 percent told Gallup that they expect their personal finances to be even better next year, just shy of the record 71 percent when the internet boom was raging under former President Bill Clinton. What’s more, the survey company said that 50 percent believe they are ‘better off’ than just a year ago when the current economic surge was kicking in and when the White House coined the phrase ‘MAGAnomics.’”

“The data are in and the economy grew at a 3.1 percent rate from the fourth quarter of 2017 to the fourth quarter of 2018, one measure of annual growth, according to the Bureau of Economic Analysis. That is the first time in 13 years that it’s been over 3 percent, the White House notes. The administration attributes the gains to tax cuts, deregulation and other pro-growth policies.”

THE WALL STREET JOURNAL: Inside the Hottest Job Market in Half a Century

“The job market doesn’t get much better than this. The U.S. economy has added jobs for 100 consecutive months. Unemployment recently touched its lowest level in 49 years. Workers are so scarce that, in many parts of the country, low-skill jobs are being handed out to pretty much anyone willing to take them—and high-skilled workers are in even shorter supply. All sorts of people who have previously had trouble landing a job are now finding work. Racial minorities, those with less education and people working in the lowest-paying jobs are getting bigger pay raises and, in many cases, experiencing the lowest unemployment rate ever recorded for their groups.”

CNBC: Worker Wage Gains Just Broke 3% for the First Time in More Than 10 Years

“Wages and salaries for American workers rose more than 3 percent over the past year, the first time that threshold has been broken in more than 10 years, according to a Labor Department report Thursday. The employment cost index, which the Bureau of Labor Statistics releases quarterly, showed a 3.1 percent gain in the wages and salaries component in the fourth quarter of 2018. That’s up from 2.9 percent in the third quarter and tied for the biggest gain since the third quarter of 2008, just as worst of the financial crisis hit.”

BLOOMBERG: Job Switchers See Best Wage Gains Since 2007

“A strong labor market is proving to be blessing for job switchers as they pocket bigger raises amid record openings. Median wage growth for those who jumped to new positions picked up to 4.6 percent in January from a year earlier, the fastest pace since October 2007, according to the Federal Reserve Bank of Atlanta’s Wage Growth Tracker.”

THE WALL STREET JOURNAL: More Americans Are Back at Work Making Stuff

“America’s factories are hiring again. After years of job losses, U.S. manufacturing employment has risen for 18 straight months among those holding production or nonsupervisory jobs, the longest stretch of gains since the mid-1990s. Employers have added 274,000 non-managerial manufacturing jobs since July 2017, Labor Department figures show.”

“The nation’s top manufacturers have for the ninth consecutive quarter given the Trump economy a thumbs up, setting record industry optimism of the economy and predicting positive growth unseen during the Obama administration. The National Association of Manufacturers said big and small companies are overwhelmingly optimistic about future growth. In fact, the past nine quarters of have seen record optimism, with an average of 91.8 percent of manufacturers positive about their own firm, compared to an average of 68.6 percent during the last two years of the Obama administration.”

PHIL GRAMM AND MICHAEL SOLON IN THE WALL STREET JOURNAL: Tax Reform Unleashed the U.S. Economy

“For a midterm report card on the economy under President Trump, take a look at two recent government reports. The Commerce Department reported Thursday that real gross domestic product grew by 3.1% from the fourth quarter of 2017 to the fourth quarter of 2018—the largest rise in 13 years. And last month the Congressional Budget Office reported that even if the current surge in economic growth isn’t sustained, the revenue residual from our current strong growth rate will pay for some 80% of the projected cost of the 2017 tax reform. While these reports reflect only the initial impact of the tax cuts and the deregulatory effort, any objective evaluation would give the administration’s economic program high midterm marks.”